Cyber threats have negatively impacted many businesses and as technology advances, the likelihood of a breach continues to rise. There is a false belief among businessowners that Cyber Security is primarily a corporate issue. However, over 40% of breach victims are small businesses. 1 For example, Fazio Mechanical Services, a small business that specializes in refrigeration and HVAC systems, was the access point for the 2013 Target breach where hackers stole an estimated 40 million debit and credit cards. Although all businesses are at risk of cyber threats, small businesses are especially vulnerable due to a lack of Cyber Security information.

The best way to stop cyber threats is through end-user education – ensuring that each user understands these threats and how to identify them. There are three types of cyber threats:

  • Cybercrime – single actors or groups who target systems in order to gain monies or cause disruptions
  • Cyber-Attack – information gathering for political purposes
  • Cyberterrorism – used to cause panic or fear

            A report by RiskBased Security revealed that within the first half of 2019 alone, 4.1 billion records were exposed by data breaches! Compared to that same time frame in 2018, the number of exposed records had more than doubled. 2

Pablos Holman, a professional inventor and hacker for the Intellectual Ventures Laboratory, once stated “hackers have a mind for figuring out what is possible.” As technology advances, hackers use this mindset to find new ways to break into systems and exploit weaknesses. Cyber Security professionals are constantly combating their efforts, but cyber threats are still on the rise as hackers adapt to new technologies.

During the next few months, we will delve deeper into the subject of Cyber Security and attempt to further your understanding. Through information and education, we hope to protect your small business and decrease the likelihood of you becoming a victim to a cyber threat.

Resources:

1 Verizon: https://enterprise.verizon.com/en-gb/resources/reports/dbir/

2 RiskBased Security: https://pages.riskbasedsecurity.com/2019-midyear-data-breach-quickview-report